Fifth Third Bancorp (FITB) Receives Consensus Rating of “Hold” from Brokerages
Shares of Fifth Third Bancorp (NASDAQ:FITB) have been assigned a consensus recommendation of “Hold” from the twenty-six analysts that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eighteen have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $28.97.
FITB has been the topic of several research analyst reports. Zacks Investment Research cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. UBS Group reissued a “sell” rating and set a $26.00 price target (up from $25.00) on shares of Fifth Third Bancorp in a report on Friday, October 6th. Bank of America increased their price target on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Piper Jaffray Companies reissued a “hold” rating and set a $27.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Finally, Morgan Stanley increased their price target on Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th.
Fifth Third Bancorp (NASDAQ:FITB) opened at $32.50 on Friday. The stock has a market capitalization of $23,170.00, a P/E ratio of 12.26, a P/E/G ratio of 2.20 and a beta of 1.35. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $32.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $0.16 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.97%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 24.15%.
In other news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.
Large investors have recently bought and sold shares of the company. Horan Capital Advisors LLC. purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $102,000. Valeo Financial Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $119,000. Sun Life Financial INC increased its stake in shares of Fifth Third Bancorp by 55,050.0% in the 2nd quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 5,505 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Fifth Third Bancorp by 268.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 4,706 shares in the last quarter. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $202,000. Hedge funds and other institutional investors own 83.86% of the company’s stock.
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About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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